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home / news releases / VRM - Vroom makes splashy AI move with deal for CarStory

VRM - Vroom makes splashy AI move with deal for CarStory

Vroom Inc.
Vroom (VRM) strikes a deal to acquire CarStory through a deal for parent Vast Holdings at $120M (60% cash, 40% shares).CarStory is described as a leader in AI-powered analytics and digital services for automotive retail, which leverages its machine learning to bring a complete and accurate view of predictive market data.The company says CarStory will continue to drive automotive retail innovation as part of Vroom by aggregating, optimizing and distributing current market data from thousands of automotive sources and offering its digital retailing services to dealers, top automotive financial services companies and household names in automotive industry research and retailing. The transaction is anticipated to close in January.VRM +0.14% premarket to $35.49Source: Press ReleaseVroom was also upgraded by Truist today to a Buy rating. 12 out of 15 firms covering the stock have a Buy-equivalent rating.

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Vroom makes splashy AI move with deal for CarStory
Stock Information
Company Name: Vroom Inc.
Stock Symbol: VRM
Market: NASDAQ
Website: vroom.com
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